VerticalScope’s Rob Laidlaw named company chair as Paul Rivett steps down

founder and chief executive Rob Laidlaw has been appointed chair of the company, replacing Paul Rivett, who is stepping down after finalizing a corporate divorce with a former business partner.

“It was a pleasure for us to help bring this great company to the public markets and to serve on the board,” Mr. Rivett said in a press release. Mr. Rivett went to court last September seeking to break up NordStar, but he and Mr. Bitove instead pursued a private mediation and arbitration process to resolve their dispute. In November, Mr. Bitove took over the Toronto Star and Metroland, and Mr. Rivett left Torstar.

As a result, about 3.3 million subordinate shares in VerticalScope – an 18-per-cent stake – will go to Tevir Capital LP Ltd., which is controlled by family members of Mr. Rivett, according to a press release. NordStar, now solely owned by Mr. Bitove, will retain a 17.6-per-cent stake. NordStar divested another 1.4 million shares to an unaffiliated third party, according to VerticalScope’s press release.

Source: News Formal (newsformal.com)

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